Nephilia Capital sees demand for insurance linked securities

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Bermuda-based Nephila Capital, a leading investment manager specialising in insurance linked securities (ILS), attracted inflows of $340m from 11 UK institutions into its catastrophe reinsurance fund in the second half of 2009. The latest inflows bring total assets under management in the platform to $2.6bn.

Nephila has multiple investment products and managed accounts dedicated to investing in insurance-linked instruments such as catastrophe bonds. These are a form of insurance securitisation which spread the risk of insured claims from natural disasters. Because returns are based on physical events instead of market events, they offer investors access to an asset class which is uncorrelated to world stocks and bonds. "Insurance-linked securities are clearly gaining broader acceptance from institutional investors and consultants," said Paul Dackombe, head of UK Institutional Sales at Man."A...

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